Cost & Savings Breakdown
Based on $150/month electric bill in Peoria
System Size
7 kW
Annual Production
9,012 kWh
Gross System Cost
$21,745
Federal Tax Credit (30%)
-$6,524
State Incentive
-$10,000
Net Cost
$5,222
Monthly Savings
$122
CO₂ Offset/yr
8,291 lbs
25-Year Savings Projection
Utility & Net Metering
Local UtilityAmeren Illinois
Net Metering PolicyFull Retail
Compensation RateFull retail rate
Capacity LimitNo overall limit
Electricity Rate$0.162/kWh
Peak Sun Hours4.4 hrs/day
Available Incentives
30%
Federal ITC — Deduct 30% of your system cost from federal taxes. Available through 2032.
$10,000
Illinois State Incentive — Illinois offers a Solar Renewable Energy Credit (SREC) program worth up to $10,000.
Common Questions
How much does solar cost in Peoria?
Solar in Peoria, Illinois costs approximately $21,745 for a 7 kW system. After the 30% federal tax credit, your net cost is about $5,222.
What is the solar payback period in Peoria?
The estimated payback period for solar in Peoria is 3.6 years, based on a $150/month electric bill and local sun hours of 4.4 hrs/day.
Does Ameren Illinois offer net metering?
Ameren Illinois offers Full Retail net metering. Full retail rate.